Economy
Pfizer expects to complete purchase of Seagen on Thursday
Pfizer announced Tuesday that it expects to complete this week its $43 billion acquisition of cancer-focused biotech company Seagen after clearing key regulatory hurdles. "Pfizer expects to close the acquisition of Seagen on December 14."
IMF resumes Sri Lanka bailout after China's debt deal
The International Monetary Fund announced on Tuesday it is reviving its $2.9 billion bailout for Sri Lanka after the South Asian nation clinched a debt restructure deal with its largest single lender China. Sri Lanka had expected the progress review to be completed by September, but it was held up pending assurances of debt restructuring by China, the island's largest single bilateral creditor.
Thames Water says needs more time for financial turnaround
Struggling UK utility firm Thames Firm needs more time to turn around its fortunes after announcing a slump in profits and mounting debt, one of its bosses said Tuesday. The Environment, Food and Rural Affairs Committee called a number of Thames Water bosses to give evidence about its debts.
Blue Origin announces space launch next week, first since 2022 crash
Blue Origin said on Tuesday it was aiming to launch its New Shepard suborbital rocket next week, the first mission since an uncrewed crash in September 2022 set back Jeff Bezos' space company. The two companies compete in the emerging space tourism sector, offering a few minutes of weightlessness in "suborbital" space.
Palestinian economy severely impacted by Israel-Hamas war: World Bank
The Israel-Hamas war in Gaza is having a severe impact on the Palestinian economy, according to the World Bank, which now estimates sharp economic contraction this year and next. Beyond the immediate human cost, the Israel-Hamas conflict has also "severely impacted the Palestinian economy," the World Bank announced in a statement published Tuesday.
Argentine government to unveil measures to avoid 'hyperinflation'
President Javier Milei's new government will on Tuesday unveil a set of emergency measures to avoid "hyperinflation" that are expected to deliver a shock to the country's ailing economy. The decision is to avoid it," government spokesman Manual Adorni said Tuesday.
US Fed kicks off rate meeting with another pause expected
The US Federal Reserve began a two-day interest rate meeting Tuesday at which policymakers are widely expected to hold rates steady for a third straight meeting as they continue the fight against high inflation.
Tinubu approves operation of first electric taxis in Nigeria, announces next big move
President Bola Tinubu has inaugurated 107 Mass Transit vehicles in Maiduguri in addition to 50 electric taxis purchased by the Borno state government
US consumer inflation slows in November but pressures remain
Consumer inflation in the United States edged down for a second straight month in November, government data showed Tuesday, in encouraging news for policymakers seeking to get prices under control. The consumer price index (CPI), a closely eyed gauge of inflation, rose 3.1 percent from a year ago, said the Department of Labor, down from a 3.2 percent rate in October.
Economy
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